Dell (DELL) (NYX) (JNJ) (END) (CRM) (NUVA) Ratings, Price Targets

Dell Inc. (NASDAQ: DELL), NYSE Euronext (NYSE: NYX), Johnson & Johnson (NYSE: JNJ), Endeavour International Co. (NYSE: END), Salesforce.com (NYSE: CRM) and NuVasive (NASDAQ: NUVA) had ratings and price targets on them adjusted by analysts.

Dell Inc. (DELL) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Underweight” rating to an “Overweight” rating.

NYSE Euronext (NYX) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating.

Johnson & Johnson (JNJ) was downgraded by First Global from an “Outperform” rating to a “Market Perform” rating.

Endeavour International Co. (END) was downgraded by Sidoti from a “Buy” rating to a “Neutral” rating.

Salesforce.com (CRM) was downgraded by Global Equities Research from an “Equal Weight” rating to an “Underweight” rating.

NuVasive (NUVA) had its price target raised by Mizuho from $20.00 to $25.00. They have a “Buy” rating on the company.

Callaway (ELY) (JNJ) (OMC) (PC) (PDX) (EA) Ratings, Price Targets

Callaway Golf (NYSE: ELY), Johnson & Johnson (NYSE: JNJ), Omnicom (NYSE: OMC), Panasonic (NYSE: PC), Mednax (NYSE: PDX) and Electronic Arts (NYSE: EA) ratings and price targets.

Callaway Golf (ELY) had its “Neutral” rating reiterated by DA Davidson. They have a price target of $6.00 on the company.

Johnson & Johnson (JNJ) had its “Neutral” rating reiterated by analysts at JPMorgan Chase & Co. (NYSE:JPM).

Jefferies Group initiated coverage on Omnicom (OMC). They placed a “Hold” rating and a price target of $41.00 on the company.

Panasonic (PC) was downgraded by Credit Suisse (NYSE:CS) to a “Neutral” rating.

Mednax (PDX) was downgraded by Stifel Nicolaus from a “Buy” rating to a “Hold” rating.

Electronic Arts (EA) was upgraded by Hudson Securities from a “Hold” rating to a “Buy” rating.

Kroger (KR) (MPC) (NR) (NVLS) (OII) (JNJ) (KLAC) Ratings, Price Targets

Kroger (KR), Marathon Petroleum (MPC), Newpark Resources, Inc. (NR), Novellus Systems, Inc. (NVLS), Oceaneering International (OII), Johnson & Johnson (JNJ) and KLA-Tencor (KLAC) ratings and price targets.

Deutsche Bank (NYSE:DB) reiterated its “Buy” rating on Marathon Petroleum (MPC). They have a price target of $50.00 on the company.

Canaccord Genuity initiated coverage on Newpark Resources, Inc. (NR). They placed a “Hold” rating and a price target of $10.00 on the company.

Deutsche Bank initiated coverage on Novellus Systems, Inc. (NVLS). They placed a “Hold” rating on the company.

Jefferies (NYSE:JEF) initiated coverage on Oceaneering International (OII). They placed a “Hold” rating on the company.

Citigroup (NYSE:C0 lowered its price target on Johnson & Johnson (JNJ) to $70.00.

Deutsche Bank initiated coverage on KLA-Tencor (KLAC). They placed a “Hold” rating on the company.

Deutsche Bank reiterated its “Buy” rating on Kroger (KR). They have a price target of $28.00 on the company.

Cimarex (XEC) (GMAN) (VRA) (JNJ) (UTIW) (KR) Price Targets Changed

Cimarex Energy Co. (NYSE: XEC), Gordmans Stores (NASDAQ: GMAN), Vera Bradley, Inc. (NYSE: VRA), Johnson & Johnson (NYSE: JNJ), UTi Worldwide Inc. (NASDAQ: UTIW) and Kroger (NYSE: KR) price targets adjusted by analysts.

Cimarex Energy Co. (XEC) had its price target lowered by Dahlman Rose from $120.00 to $90.00. They have a “Buy” rating on the company.

Gordmans Stores (GMAN) had its price target raised by Piper Jaffray (NYSE:PJC) to $21.00.

Vera Bradley, Inc. (VRA) had its price target lowered by Piper Jaffray to $47.00.

Johnson & Johnson (JNJ) had its price target lowered by UBS AG (NYSE:UBS) to $74.00. They have a “Buy” rating on the company.

UTi Worldwide Inc. (UTIW) had its price target lowered by Morgan Keegan to $18.00.

Kroger (KR) had its price target lowered by Jefferies (NYSE:JEF) to $27.00. They have a “Buy” rating on the company.

HeartWare (HTWR) (EW) (GU) (JNJ) (LL) (MXIM) Price Targets Changed

HeartWare (NASDAQ: HTWR), Edwards Lifesciences (NYSE: EW), Gushan Environmental Energy Limited (NYSE: GU), Johnson & Johnson (NYSE: JNJ), Lumber Liquidators (NYSE: LL) and Maxim Integrated Products Inc. (NASDAQ: MXIM) price targets adjusted by analysts.

Edwards Lifesciences (EW) had its price target lowered by Morgan Keegan from $97.00 to $91.00. They have an “Outperform” rating on the company.

Gushan Environmental Energy Limited (GU) had its price target lowered by Ardour Capital from $4.00 to $2.00. They have a “Hold” rating on the company.

HeartWare (HTWR) had its price target lowered by Morgan Keegan from $83.00 to $73.00. They have an “Outperform” rating on the company.

Johnson & Johnson (JNJ) had its price target lowered by Morgan Keegan from $70.00 to $68.00. They have a “Market Perform” rating on the company.

Lumber Liquidators (LL) had its price target lowered by Longbow Research from $28.00 to $22.00. They have a “Buy” rating on the company.

Maxim Integrated Products Inc. (MXIM) had its price target lowered by UBS AG (NYSE:UBS) from $27.00 to $23.00. They have a “Neutral” rating on the company.

Tyson (TSN) (MGM) (JNJ) (CFN) (CREE) (MRX) EPS Estimates Changed

Tyson Foods, Inc. (NYSE: TSN), MGM Resorts (NYSE: MGM), Johnson & Johnson (NYSE: JNJ), CareFusion Co. (NYSE: CFN), Cree, Inc. (NASDAQ: CREE) and Medicis Pharmaceutic (NYSE: MRX) EPS estimates adjusted by analysts.

Morgan Stanley (NYSE:MS) raised its EPS estimates on Tyson Foods, Inc. (TSN). They have an “Equal Weight” rating on the company.

Morgan Stanley raised its EPS estimates on MGM Resorts (MGM). They have an “Equal Weight” rating and a price target of $17.00 on the company.

Goldman Sachs (NYSE:GS) slashed its EPS estimates on Johnson & Johnson (JNJ). They have a “Buy” rating and a price target of $74.00 on the company.

Citigroup (NYSE:C) lowered its EPS estimates on CareFusion Co. (CFN). They have a “Buy” rating and a price target of $31.00 on the company.

UBS AG (NYSE:UBS) cuts its EPS estimates on Cree, Inc. (CREE). They have a “Neutral” rating and a price target of $30.00 on the company. They had a price target of $41.00 on the company before. They cited valuation as the catalyst behind the call.

UBS AG cut its EPS estimates on Medicis Pharmaceutic (MRX). They have a “Neutral” rating and a price target of $39.00 on the company.

Coverage on (NUE) (SCHN) (STLD) (JDAS) (JNJ) Initiated by Analysts

Analysts initiated coverage on Nucor Co. (NYSE: NUE), Schnitzer Steel (NASDAQ: SCHN), Steel Dynamics, Inc. (NASDAQ: STLD), JDA Software Group, Inc. (NASDAQ: JDAS) and Johnson & Johnson (NYSE: JNJ).

Jefferies (NYSE:JEF) initiated coverage on Nucor Co. (NUE). They placed a “buy” rating and a price target of $52.00 on the company.

Jefferies initiated coverage on Schnitzer Steel (SCHN). They placed a “buy” rating and a $70.00 price target on the company.

Jefferies initiated coverage on Steel Dynamics, Inc. (STLD). They placed a “buy” rating and a $20.00 price target on the company.

The Benchmark Company initiated coverage on JDA Software Group, Inc. (JDAS). They placed a “buy” rating and a $40.00 price target on the company.

Deutsche Bank (NYSE:DB) initiated coverage on Johnson & Johnson (JNJ). They placed a “hold” rating and a $73.00 price target on the company.

Nucor Co. closed Friday at $40.93, falling $0.58, or 1.40 percent. Schnitzer Steel closed at $57.96, losing $0.61, or 1.04 percent. Steel Dynamics, Inc. ended the day at $16.23, down $0.21, or 1.28 percent. JDA Software Group, Inc. closed at $32.71, gaining $0.17, or 0.52 percent. Johnson & Johnson closed at $67.57, dropping $0.35, or 0.52 percent.

Ratings on (IVR) (JASO) (JNJ) (LTRE) Upgraded

Ratings on shares of Invesco Mortgage Capital Inc (NYSE: IVR), JA Solar (NASDAQ: JASO), Johnson & Johnson (NYSE: JNJ) and Learning Tree (NASDAQ: LTRE) were upgraded by analysts.

Stifel Nicolaus upgraded Invesco Mortgage Capital Inc (IVR) from a “hold” rating to a “buy” rating. They have a price target $25.00 on the company.

Credit Suisse (NYSE:CS) upgraded JA Solar (JASO) from an “underperform” rating to a “neutral” rating.

Goldman Sachs (NYSE:GS) upgraded Johnson & Johnson (JNJ) from a “neutral” rating to a “buy” rating. They have a price target o $77.00 on the company.

Stifel Nicolaus upgraded shares of Learning Tree (LTRE) from a “hold” rating to a “buy” rating. They have a price target $15.00 on the company.

Pharmaceuticals (NVS) (AZN) (SNY) (JNJ) (BMY) Performance May 4

Pharmaceuticals companes Novartis (NYSE:NVS), AstraZeneca (NYSE:AZN), Sanofi-Aventis (NYSE:SNY), JNJ (NYSE:JNJ) and Bristol-Myers Squibb (NYSE:BMY) were among the high and low movers in the sector today.

The NYSE Drug index was trading close to level so far on the day.

Novartis (NVS) was leading the sector today, as of 2:50 PM EDT, trading at $60.46, gaining $0.89, or 1.49 percent.

AstraZeneca (AZN) was another top performer in pharmaceuticals, trading at $50.95, up $0.56, or 1.11 percent.

Also moving up on the day was Sanofi-Aventis (SNY), which was at $40.61, rising $0.56, or 1.40 percent.

Johnson & Johnson (JNJ) was among the worst performers in the sector, dropping to $65.73, down $0.53, or 0.80 percent.

Bristol-Myers Squibb (BMY) also continues to struggle, trading at $28.74, falling $0.09, or 0.33 percent.

Dividends of (UGI) (PH) (CFR) (JNJ) (COH) Boosted

UGI Corporation (UGI), Parker Hannifin Corporation (PH), Cullen/Frost Bankers Inc. (CFR), Johnson & Johnson (JNJ) and Coach, Inc. (COH) all have boosted their dividends lately.

UGI Corporation (UGI) raised its quarterly dividend on April 28 to 4 percentto $0.26 a share. The dividend is payable July 1, 2011, to shareholders of record as of June 15, 2011. The new payout has a yield of 3.1 percent.

Parker Hannifin Corporation (PH) raised its quarterly dividend on April 27 to 16 percent to $0.37 a share. The dividend is payable June 3, 2011, to shareholders of record as of May 10, 2011. The new payout has a yield of 1.1 percent.

Cullen/Frost Bankers Inc. (CFR) raised its dividend on April 26 to 16 percent to 2.2 percent, or $.46 a share. The quarterly dividend is payable June 15, 2011, to shareholders of record on June 1 of 2011. The new payout has a yield of 3.1 percent.

Johnson & Johnson (JNJ) raised its dividend on April 28 to 16 percent to 5.6 percent, or $0.57 a share. The quarterly dividend is payable on June 14, 2011, to shareholders of record as of May 31, 2011. The new payout has a yield of 3.5 percent.

Coach, Inc. (COH) raised its dividend on April 26 to 16 percent to 50 percent, or $0.225 a share. The quarterly dividend is payable starting in July 2011. The new payout has a yield of 1.5 percent.

Price Targets on (MMI) (NLSN) (OCLR) (IP) (JNJ) Updated

Price targets on Motorola Mobility (NYSE: MMI), Nielsen Hldg (NASDAQ: NLSN), Oclaro, Inc. (NASDAQ: OCLR), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) get updated.

Deutsche Bank (NYSE:DB) cut their price target on shares of Motorola Mobility (MMI) from $30.00 to $25.00. They have a “hold” rating on the stock.

JPMorgan Chase & Co. (NYSE:JPM) analysts raised their price target on Nielsen Hldg (NASDAQ: NLSN) from $32.00 to $34.00. They have an “overweight” rating on the stock.

Citigroup (NYSE:C) cut their price target on Oclaro, Inc. (OCLR) from $15.00 to $14.50.

Deutsche Bank raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the stock.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the stock.

Price Targets on (HLS) (HS) (INFN) (IP) (NYSE: JNJ) Updated

Price targets on HealthSouth (NYSE: HLS), HealthSpring, Inc (NYSE: HS), Infinera Corp. (NASDAQ: INFN), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) get updated.

Morgan Keegan raised their price target on HealthSouth (HLS) from $29.25 to $32.00.

Jefferies (NYSE:JEF) raised their price target on HealthSpring, Inc (HS) from $46.00 to $48.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) cut their price target on Infinera Corp. (INFN) from $9.50 to $9.00.

Deutsche Bank (NYSE:DB) raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the company.

Price Targets on (HLS) (HS) (INFN) (IP) (JNJ) Updated

Price targets on HealthSouth (NYSE: HLS), HealthSpring, Inc (NYSE: HS), Infinera Corp. (NASDAQ: INFN), International Paper Company (NYSE: IP) and Johnson & Johnson (NYSE: JNJ) were updated today.

Morgan Keegan raised their price target on shares of HealthSouth (HLS) from $29.25 to $32.00.

Jefferies (NYSE:JEF) raised their price target on HealthSpring, Inc (HS) from $46.00 to $48.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) cut their price target on Infinera Corp. (INFN) from $9.50 to $9.00.

Deutsche Bank (NYSE:DB) raised their price target on International Paper Company (IP) from $35.00 to $39.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Johnson & Johnson (JNJ) from $67.00 to $72.00. They have a “buy” rating on the company.

St. Jude Medical (STJ) Earnings Drop Ends Streak

Shares of St. Jude Medical (NYSE:STJ) are trading strong even after a disappointing quarter where net income for St. Jude Medical, Inc. was down to $233.4 million, or 71 cents a share, vs. $238.6 million, or 73 cents a share last year in the same quarter, a decline of 2.2 percent.

Revenue jumped for the quarter, rising 9 percent to $1.38 billion.

St. Jude Medical missed on the average analyst estimate of 78 cents a share. Estimates ranged from 77 cents a share to 80 cents a share.

St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “During the first quarter, we continued to make good progress in developing the new growth drivers we need to return to double-digit sales growth on a sustainable basis. Our gross margin has strengthened, we have continued to invest in research and development at an elevated rate, and our sales and earnings growth outlook have both improved. We are off to a good start making 2011 another very successful year for St. Jude Medical.”

Major competitors of St. Jude Medical include Medtronic, Inc. (NYSE:MDT), Boston Scientific Corporation (NYSE:BSX), Intuitive Surgical, Inc. (NASDAQ:ISRG), Johnson & Johnson (NYSE:JNJ), and Edwards Lifesciences Corp. (NYSE:EW).

St. Jude Medical was trading at $52.75, gaining $1.75, or 3.43 percent, as of 1:22 PM EDT.

J&J (JNJ) Looking at $20 Billion Bid for Synthes

In what would be the largest acquisition ever for Johnson & Johnson (NYSE:JNJ) if they decide to go through with it and can pull it off, they are reportedly mulling over a $20 billion bid for Switzerland's Synthes, one of the leading competitors in the orthopedic devices market.

Included in products manufactured and marketed by Synthes are instruments, implants and biomaterials for the surgical fixation and regeneration of human skeleton and its soft tissues, and for operative treatment of bone fractures.

A source cited by the Wall Street Journal says the negotiations are ongoing and "fragile," with both companies looking at the resulting combined control of over 50 percent of the trauma market, which would inevitably invite intense regulatory scrutiny.

The trauma market is valued overall at about $5.5 billion.

Johnson & Johnson was trading at $60.50, falling $0.06, or 0.10 percent, as of 12:31 PM EDT.

Microsoft (MSFT) Patent Battle Has Companies, Industries Choosing Sides

The battle by Microsoft (NASDAQ:MSFT) to make it easier to challenge whether or not a patent is valid or not is heading to the Supreme Court, as various companies and industries line up on both sides of the issue in support of or against the case.

Backing Microsoft are many in the tech sector, including Google Inc. (NASDAQ:GOOG), Verizon Communications Inc. (NYSE:VZ), Apple Inc. (NASDAQ:AAPL), Cisco Systems Inc. (NASDAQ:CSCO), eBay Inc. (NASDAQ:EBAY), Facebook Inc. and Intel Corp. (NASDAQ:INTC), while lining up against them are 3M Co. (NYSE:MMM), Johnson & Johnson (NYSE:JNJ) and General Electric Co. (NYSE:GE), along with branded drug companies like Pfizer (NYSE:PFE) and Merck (NYSE:MRK).

Companies supporting Microsoft said in a brief, "Those allegations are often based on invalid patents, but they are nonetheless costly and risky to defend, in part because of the clear-and-convincing standard."

Companies opposing Microsoft noted, "Inventors and society would suffer from such a rule, which would simultaneously reduce the rewards of innovation by weakening property rights while increasing the costs of innovation."

Banks and other financial companies also support Microsoft, as they are often recipients of lawsuits in regard to patents as well.

Merck (MRK) Up on J&J (JNJ) Remicade Deal

Shares of Merck (NYSE:MRK) climbed close to 3 percent in trading on news it had entered a marketing deal with Johnson & Johnson (NYSE:JNJ) with its rheumatoid arthritis drug Remicade.

When Merck acquired Schering-Plough in 2009 it triggered a change-of-control clause in Remicade’s marketing agreement, which gave Johnson & Johnson full commercial control of the drug.

Merck will pay J&J $500 million and will retain marketing rights in Russia, Turkey and Europe.

Johnson & Johnson was trading at $60.67, up $0.65, or 1.08 percent, as of 12:53 PM EDT. Merck was trading at $34.76, gaining $0.90, or 2.66 percent.

Johnson & Johnson (JNJ) Recalls Two Topamaz Lots

Johnson & Johnson (NYSE:JNJ) announced it is recalling a couple of lots of its Topamax antiseizure drug after receiving complaints of an odd odor coming from the products.

The source of the odor is apparently chemically treated wooden pallets. The company is looking into whether or not other products may be affected in a similar manner.

What caused the problem was pallets that were mislabeled, resulting in the product being placed upon them for shipping.

"The entire supply chain organization is looking at this," J&J spokeswoman Carol Goodrich said.

Johnson and Johnson was trading at $59.90, up $0.30, or 0.50 percent.

J&J's (JNJ) CEO Gets 9% Pay Cut in 2010

After a plethora of falling sales and medicine recalls, Johnson & Johnson (NYSE:JNJ) Chief Executive Officer William Weldon had his compensation slashed by 9 percent in 2010.

Two years of revenue declines and an unprecedented string of recalls that have battered the reputation of medicines like Tylenol and other household brands.

The New Brunswick, N.J.-based company awarded Weldon a package worth $23.2 million - including salary, bonus and other awards - down from $25.6 million in the previous year. The company disclosed the pay Wednesday in a Securities and Exchange Commission filing.

But J&J's board gave Weldon overwhelmingly positive marks for the year, saying he "provided strong leadership during a very demanding year." In commenting on the string of recalls -- 20 since September 2009 -- the board said "Weldon's leadership and engagement with employees, legislators, regulators, investors and the news media enabled the company to deal with the issues."

The board appeared to tie most of the recall problems to consumer products chairwoman Colleen Goggins, who oversaw the company's McNeil Consumer Healthcare unit before retiring earlier this month. Her total compensation fell 12 percent to $6.5 million for the year. Still, the board did not level any direct criticism at Goggins, instead praising her "distinguished career with the company."

Weldon's salary grew 3 percent for the year to $1.9 million. His annual performance bonus fell $1.6 million from $3.6 million last year. But when combined with other components of his incentive package, his total non-equity compensation package totaled $12 million, down just 6 percent from the previous year.

J&J was trading at $57.60, falling $0.88, or 1.50 percent, as of 2:14 PM EDT.




Source

Medical Device Makers (VOLC) (EW) (XRAY) Among Hardest Hit in Japan

A large number of sectors have been hit hard in Japan, depending on the exposure they have to the country, and one not mentioned too much so far is the medical devices market, where those with the most exposure to Japan are Volcano Corp (NASDAQ:VOLC) Edwards Lifesciences Corp (NYSE:EW) and Dentsply International Inc (NASDAQ:XRAY).

About 30 percent of revenue generated by Volcano comes from Japan. Dentsply said key suppliers have been disrupted and has withdrawn its earnings guidance for 2011. Edwards Lifesciences Corp., which makes heart valves, generates about 17 percent of its revenue in Japan. At worst, Edwards sees disruptions being temporary and see no materially impact financial results from the earthquake damage.

Even so, analysts say every company should experience some degree of loss of sales as a result of the natural disaster.

Others device makers with significant exposure in Japan are Boston Scientific Corp (NYSE:BSX), with 12 percent of total sales in Japan, St Jude Medical Inc (NYSE:STJ) and Wright Medical Group Inc (NASDAQ:WMGI) at 11 percent each, Stryker Corp (NYSE:SYK) at 10 percent and Zimmer Holdings Inc (NYSE:ZMH) at 9 percent.

Larger diversified firms with less exposure are Medtronic Inc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Abbott Laboratories (NYSE:ABT) with from 5 percent to 6 percent of sales coming from Japan.

Of drugmakers, the largest exposure is Merck & Co Inc (NYSE:MRK) with about 8 percent of sales coming from Japan. Bristol Myers Squibb (NYSE:BMY) only has about 3 percent of sales come from there.

Volcano Corp. closed Tuesday at $23.56, down $1.21, or 4.88 percent. Edwards Lifesciences closed at $86.23, dropping $2.23, or 2.52 percent. Densply closed at $35.63, falling $1.55, or 4.17 percent.